M/A COM Technology Solutions Holdings Inc. (MACOM) announced that it has acquired the Aeroflex diode business from Cobham plc for $38M in cash. The acquired business, which had 2014 revenues of $37M, is a leading supplier of RF and microwave diodes including HiRel JAN-qualified products to customers in the aerospace, defense, and test and measurement markets.
John Croteau, President and CEO of MACOM states: "“We expect that Areoflex’s business will be extremely complementary to our existing product portfolio and further extend MACOM’s leading position in high-performance diodes. We believe that the transaction will provide meaningful scale advantages for our diode business, and that once their facilities are fully integrated, MACOM will be able to drive beneficial COGS efficiencies that will make the transaction accretive to MACOM’s non-GAAP operating margins and earnings per share.”
Ropes & Gray LLP was the legal advisor to MACOM and Jaeckle Fleischmann & Mugel LLP was legal advisor to Cobham.
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